Hey guys, it’s Cindy here with the Daily News on CryptoPig and today we have 6 different interesting news pieces to update you with. So let’s quickly dive in to see what they are. First up, Anthony Pompliano, Founder and Partner at Morgan Creek Digital Assets joins Shark Tank’s Kevin O Leary on CNBC to discuss the latest bull run when it comes to the crypto market. U Today gives us Github’s Top 100 Projects shaping our technology world with Bitcoin Core and Brave Browser making it into the list. Then we have a 60 minutes segment on CBS about Bitcoin — some on Reddit believe that it could ignite a bull run while others believe that it could paint a pessimistic view of the token. Bitcoin popularity comes back as the term bitcoin on search beat out Donald Trump, Beyonce, Ariana Grande, and Even Kim Kardashian. Facebook Launches a Swiss Based startup to develop its cryptocurrency token, and finally, Bitcoin Surged 10x after the 2016 halving event. Will we see something similar in 2020? So guys lots of new and interesting news to discuss today. If you want to hear about all of them, please make sure you stay right until the very end
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Let’s pop over to the market to see how we’re doing today. And, I gotta say I’m really loving the market these last few days. We’ve got a pretty nice and green market. In the top 10, Bitcoin has increased by 5.74%, Ether by 3.68%, and Ripple’s XRP by 5.54%. Honourable mentioned to Bitcoin Cash, which has increased by 9.13%. Moving onto the top 20, and we see a pretty similar trend, a few reds in there, but the majority are greens. It’s definitely interesting to see that Dash has surged up to 15.05%. Now moving onto our news segment!
The first news item I want to talk to you guys about is this interview that Anthony Pompliano had with CNBC and Kevin O Leary.
Now Pompliano without much surprise took a very strong Pro Bitcoin stance. He mentioned that Bitcoin futures saw $1.2 billion in volume, a lot of the cryptocurrency exchanges are seeing all-time highs in volume, and we’re starting to see a nice bull market. But when asked why his response was a mix of institutions and retail investors. He mentioned “institutions are starting to come in with Fidelity announcing that they are going to start their custody and trading and Bakkt set the deadline for July but retail is also coming in but what you’re seeing is 2 things. 1 It’s a very scarce asset, we’re a year out from the halvening, so it’s going to get half as scarce, in the monetary schedule (which historically is a big price driver because it reminds people that there are only 21 million of Bitcoin tokens) and the other thing, I think the trade war has a bit to do with it. This idea that a trade war is playing out… you would look at a non-sovereign currency, and I think there is some kind of safe haven.”
While the CNBC crew had many questions and were quite skeptical of Bitcoin, Pompliano stated that Bitcoin was the best performing asset of the decade. Kevin O Leary’s primary concern is that there isn’t a clear intrinsic value for Bitcoin as a store of value. He said he understood gold as an asset class, but he rather saw Bitcoin more like a game as regulators didn’t like Bitcoin, you can’t pay your taxes with it, and really questioned the long-term value of the token. Now, I think Pompliano’s response to the fact that there is no intrinsic value to paper money that we use today, and that you can pay your taxes with Bitcoin in the state of Ohio and many other states to come, and on top of this, regulators like Bitcoin because you can track where the tokens go. There are were really great responses, and I gotta say, Pompliano did a really good job!
Now, moving on the Github releases its top 100 Projects by running a reputation algorithm to get the network value of each project. As U Today reported, we have our big players with their open source projects like Google, Apple, Microsoft, Facebook, and even Baidu but we also have Bitcoin Core and Brave Browser representing the cryptocurrency community.
Bitcoin Core comes in at 60th Position, while Brave Browser is on 89th. It’s great to see blockchain and cryptocurrency technology recognized as one of the technologies that will shape our future technological world.
So what do we have next? CBS will release a 60-minute view on Bitcoin.
Now this information was posted on Reddit and was upvoted almost 900 times. The user who posted this seems to be pretty optimistic that the documentary will have millions of viewers and that we should be ready for the pump! While millions may be watching it, some expressed more skepticism believing that the video will probably have an angle of how cryptocurrencies are great for criminals and it will be less sure than banking. MSN has released a synopsis of the documentary stating that “a $230 billion money-laundering scheme from Russian rubles to US Dollars, a Canadian group that has helped hundreds of LGBT people get out of countries where they are at risk; the financial world of Bitcoin and other cryptocurrencies.”
I’m not sure whether the Bitcoin and other cryptocurrencies are separate from the first two parts mentioned above, but I’d probably keep a neutral stance since 60 minutes is not always the best and reliable source for information.
Now According to the Daily HODL, Bitcoin search has beat out our top celebrities from Donald Trump, Beyond, Ariana Grande and even Kim Kardashian.
This began to occur after Bitcoin had hit Bullrun. Both in April when it gained 30%, and the one we just experienced recently in May, grabbing a lot of attention and even surfacing on CNN, FOX News, and the Wall Street Journal. This is just a graph to show you how Bitcoin searches began to outperform Kim Kardashian.
According to Ethereum World News, Facebook has launched its Swiss-based Startup to develop its cryptocurrency token.
Reuters noted that according to a Swiss news Website, Zuckerberg is setting up the company in Switzerland to make the USD Pegged coin come to life.
Am I surprised Facebook is building a token? No. Am I Surprised he’s doing it in Zug, Switzerland? Not so much considering Zug is a blockchain and crypto haven regarding regulations, crypto startups, and crypto talent. It’s interesting to hear that investors are looking forward to investing in Facebook Coin as opposed to bitcoin. I’m really curious to see how adoption will look like when Facebook releases the token. The US Authorities have raised their concerns, but what will happen next, I guess we’ll just have to wait.
And finally, the last item for today. As CCN questions, Bitcoin surged 10x after 2016 halving; will 2020 see a similar result? Pompliano mentioned a bit about this in his CNBC interview, and definitely very interesting topic considering its impact on Bitcoin prices!
So for those who aren’t aware, halving occurs every four years. When the Bitcoin network experiences a block reward halving, a mechanism that reduced the rate in which new Bitcoin is generated or mined by miners. So you can see based on this trend that, every time the block halves, it becomes a key factor that led to another Bullrun. There’s definitely intense interest in these halvings, and yes, I think it could really go up based on the pattern from past trends and the idea that Bitcoin is a scarce asset. With the increase in overall volume in the market, better-supporting infrastructure, institutional investors moving in, it’s really positive news for the crypto market.
So that’s a wrap, guys. Lots of news over the last few days.
What are your thoughts on everything?
Do you think Pompliano is right, that Bitcoin, that these highs are a result of both institutional, retail investors and scarcity of the asset? Are excited to see Bitcoin Core and Brave Browser as Github’s top 100? Do you think 60 minutes is going to praise or bash the Bitcoin token? Are you surprised that Bitcoin is getting more hits than household names and celebrities? Thoughts on Libra and Facebook’s progress with it? And finally, are you going to invest more before the halving begins next year?
Once again guys, please share your thoughts, queries, comments with me! Don’t forget to like, subscribe, and comment to go in the draw to win $70 worth of Ripple’s XRP tokens. It’s Cindy with CryptoPig. I’ll see you around!
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.